Preparation of consolidated statement of accounts as per AS - 21 is :
Mandatory for Listed Companies
AS - 21 (Consolidated Financial Statements) lays down how a parent should prepare and present consolidated statements for the group; the standard itself does not compel every parent to present them.
Under the SEBI listing agreement (Clause 32), listed companies were required to publish consolidated financial statements prepared in accordance with AS - 21, so for listed companies consolidation was compulsory.
For other companies, including private limited companies, AS - 21 applied only if they chose to present consolidated statements, so it was neither mandatory for them nor for all companies.
Hence, the answer is Mandatory for Listed Companies.
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